Raymond approves ?800 crore IPO of subsidiary JK Files & En ineerin
Written by: Planify
Published: 03 December 2021
Updated: 21 April 2024
1 min read
Raymond has said that its board approved listing of its wholly-owned material subsidiary JK Files & Engineering (JKFEL) through an initial public offering (IPO). The company, which aims to mobilise 2800 crore through its subsidiary's IPO, said that the issue will help deleverage Raymond. Post-IPQ JKFEL would continue to remain its material subsidiary Raymond added.
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